Versor Investments LP Makes Significant Investment into Construction Partners Inc.
Versor Investments LP, a renowned hedge fund firm, disclosed that it has bought a new position in shares of Construction Partners Inc. during the fourth quarter of 2020. According to the fund’s most recent 13F filing report with the Securities and Exchange Commission (SEC), it purchased 8,000 shares of the company’s stock at an estimated value of $214,000.
Construction Partners (NASDAQ:ROAD) is one of the leading civil infrastructure firms in America, providing unparalleled construction and maintenance services for transportation infrastructure projects all over the country. With an extensively experienced team of professionals and a keen focus on execution excellence, they work diligently to deliver top-notch projects using cutting-edge technologies and state-of-the-art solutions.
In its latest quarterly earnings data released on February 10th, Construction Partners announced an EPS of $0.04 for the quarter which fell below analysts’ consensus estimates by ($0.02). The company recorded revenue worth $341.78 million during this period compared to predicted estimates of $319.60 million. As regards net margin and return on equity for Construction Partners over the past year, they were pegged at 1.31% and 4.03%, respectively.
The company attained a 19.9% increase in revenue over the previous year’s corresponding period while recording an EPS of $0.11 per share last year’s final quarter comparable within this timeframe.
Looking ahead, research analysts forecast that Construction Partners will perform excellently throughout this fiscal year and would post an impressive 0.64 earnings per share for this year.
For more insight into what other hedge funds are holding as shares associated with ROAD or insider trades within Construction Partner Inc., visit HoldingsChannel.com to obtain real-time trading data.
As investors seek avenues to park their funds profitably amidst current nervousness challenging various economic indices globally, Versor Investment LP’s nibbling activity depicts a vote of confidence in the civil infrastructure construction market. It also suggests a futuristic approach towards investing in America’s infrastructure sector, which is expected to see massive investment going forward as part of the Joe Biden government’s claims at improving US economic growth and combating climate change through reforms and innovation.
Institutional Investors and Hedge Funds Eye Construction Partners’ Market Moves
Construction Partners: A Look at Institutional Investors and Hedge Funds
Construction Partners, Inc. (NASDAQ:ROAD) has seen some changes to its positions by institutional investors and hedge funds. Public Employees Retirement System of Ohio increased its position in shares of Construction Partners by 40.4% during the third quarter, Captrust Financial Advisors increased its position in shares of Construction Partners by 37.1% during the second quarter, MML Investors Services LLC increased its position in shares of Construction Partners by 5.8% during the third quarter, Raymond James Financial Services Advisors Inc. increased its position in shares of Construction Partners by 6.5% during the third quarter, and Ameritas Investment Partners Inc. increased its position in shares of Construction Partners by 37.7% during the first quarter.
Construction Partners has a market cap of $1.35 billion, with a P/E ratio of 75.09 and a PEG ratio of 1.09.The firm is involved in construction and maintenance of roadways and highways as well as provision of products and services to both public and private infrastructure projects.
Several equity analysts have commented on ROAD shares, with Stifel Nicolaus increasing their target price on Construction Builders from $32 to $33, giving the company a “buy” rating; DA Davidson reissuing a “neutral” rating on shares of Construction Builders; TheStreet lowering Construction Builders from a “b-” rating to a “c+” rating; and finally Raymond James dropping their target price on Construction Builders from $37 to $36 but recognizing it as “strong-buy.”
With an average rating of “Buy” according to Bloomberg’s data, it would be interesting to follow-up on news about upcoming projects that may impact safety conditions or environmental regulations that could affect companies such as Construction Builders given their involvement with infrastructure developments affecting land, water resources management or transportation safety standards.More regulatory changes could come into play, possibly motivating investors to switch their positions.